Shares of Flowserve Co. (NYSE:FLS - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $61.69 and last traded at $61.58, with a volume of 122659 shares. The stock had previously closed at $60.05.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on FLS. TD Cowen boosted their price target on Flowserve from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, August 1st. StockNews.com downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th. Royal Bank of Canada upgraded shares of Flowserve from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $57.00 to $69.00 in a report on Friday. The Goldman Sachs Group increased their target price on shares of Flowserve from $46.00 to $52.00 and gave the stock a "sell" rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group initiated coverage on shares of Flowserve in a research note on Friday, October 18th. They issued a "buy" rating and a $65.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Flowserve currently has a consensus rating of "Moderate Buy" and an average target price of $61.30.
View Our Latest Report on FLS
Flowserve Stock Performance
The company has a market capitalization of $8.01 billion, a P/E ratio of 30.20, a PEG ratio of 1.45 and a beta of 1.38. The stock's fifty day moving average price is $54.39 and its 200-day moving average price is $50.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99.
Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The business's quarterly revenue was up 3.5% on a year-over-year basis. As a group, research analysts anticipate that Flowserve Co. will post 2.71 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Flowserve during the third quarter worth approximately $227,000. Toronto Dominion Bank increased its stake in Flowserve by 4.4% during the 3rd quarter. Toronto Dominion Bank now owns 27,900 shares of the industrial products company's stock worth $1,442,000 after acquiring an additional 1,175 shares during the period. Geode Capital Management LLC raised its holdings in Flowserve by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company's stock valued at $113,851,000 after acquiring an additional 23,529 shares in the last quarter. Vestcor Inc bought a new stake in shares of Flowserve during the 3rd quarter valued at $714,000. Finally, Barclays PLC grew its holdings in shares of Flowserve by 17.8% during the 3rd quarter. Barclays PLC now owns 229,379 shares of the industrial products company's stock worth $11,857,000 after purchasing an additional 34,645 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
About Flowserve
(
Get Free Report)
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.
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